Authorization for Travel and Travel-Related Expenditures
1. Travel and related expenses must be approved by the Board in advance of the travel.
2. Requests for travel by Board Members and staff shall be placed on a Board meeting agenda, discussed in open session, and approved by a majority vote of the members. The meeting minutes shall reflect the Board’s action and the extent of the authorization.
3. The nature of the travel, its purpose, and estimated cost shall be outlined on a travel authorization memorandum. Brochures for seminars or other presentations should accompany the request for travel where available.
4. A statement describing the presentation, conference, or seminar shall be entered into the minutes of the meeting following the travel.
Required Documentation for Reimbursement
1. All requests for reimbursement must be submitted within 30 days after the expenses are incurred. Requests for travel-related expense reimbursement must be properly approved before reimbursement takes place.
2. Original itemized receipts must be submitted for all expenses including transportation, lodging, and other expenses incidental to travel.
3. Receipts are required for individual expenses over $10. Travel-related expenses that are under $10 (such as gratuities) must be fully described and reimbursed based on the traveler’s certification that the expenses were necessary and incidental to the approved travel.
4. Any travel-related expenditures which have not been properly documented or approved or are not in conformity with the Board’s regulations must be rejected or adjusted.
5. Reimbursement shall only be made to the person who actually made payment for the expense.
6. The reimbursement request form must be signed by the person seeking reimbursement and signed under the pains and penalties of perjury.
1. Travel arrangements will be made by board staff or business rates will be secured when making travel arrangements.
2. An extended stay may be authorized if the net cost to the Board will be lower.
1. The Board Members and staff may utilize any form of public conveyance for approved travel including airline, train, bus, automobile rental, or taxi, provided it is cost-effective.
2. All travel should be at the lowest fare available, generally economy/coach fare. Airline reservations should be reasonable requiring no more than one scheduled stop or transfer each way and allowing for reasonable departure and arrival times.
3. Payment for airline club memberships is prohibited.
4. The source of rental cars must be a national rental agency. Board Members and staff are restricted to the intermediate category when securing a rental automobile.
5. The rental rate will be negotiated by Board staff. It is the traveler’s responsibility to verify that the rate charged is the rate negotiated.
6. Acceptance of optional insurance coverage for rental cars is required.
7. Any motor vehicle accidents which occur while using a rental car while on Board-approved travel must be reported as soon as practicable, in writing to the appropriate authorities, with copies of all such reports provided to the Board.
8. Fines or other expenses incurred as a result of traffic violations while on Board-approved travel are not reimbursable
9. Use of personal motor vehicles is allowed when such usage is cost-effective. The per-mile expense rate shall be equal to the amount allowed by the Internal Revenue Service. Parking fees and toll charges will be reimbursable with proper documentation.
1. All reservations for accommodations should be made in advance by Board staff.
2. It is the traveler’s responsibility to verify that the rate charged is the rate negotiated by the staff member.
3. Board Members and staff are authorized to utilize accommodation provided by the conference organizer or accommodation similar in class or cost.
4. Reimbursement for lodging which is included within the registration cost of a conference or seminar is prohibited.
1. The maximum daily reimbursable amount for the cost of meals while on Board authorized travel is $50.00. Reimbursement in excess of $50.00 may be allowed for travel to high-cost locations.
2. If reimbursement is sought for meal expenses for others, these individuals are to be identified along with their affiliation and a description of the purpose of the meeting. Reimbursement shall be made only for meetings that are for business purposes.
3. Reimbursement for those meals included within the registration cost of a conference or seminar is prohibited.
Other Reimbursable and Non-Reimbursable Expenses
1. The following expenses are reimbursable with proper supporting receipts: gratuities paid in accordance with local custom, telephone expenses limited to Board or business-related calls, two personal calls per day, Internet connections charges, costs for faxing, and costs for necessary copying.
2. Personal expenses incurred while traveling are not reimbursable. These include: in-room movies, mini-bar charges, gym and golf fees, entertainment or recreational expenses, laundry and dry cleaning, and any payments for personal services.
3. Reimbursement for alcoholic beverages is prohibited.
1. Cash advance for any anticipated expenses are prohibited.
Board Credit Cards
1. The Marlborough Retirement Board may allow usage of credit cards issued to the Board. All personal use of the Board’s credit card is prohibited. Credit card billings must be mailed directly to the Board office. The card user is required to provide receipts for all expenses included in the statement. If receipts are not provided, the user will immediately reimburse the Board for these expenses.
2. Credit cards are to be used exclusively for travel or travel-related expenses.
Personal Travel Combined with Board Related Travel
1. If personal travel is combined with Board-related travel, the personal portion of the trip will be clearly identified and paid for by the traveler. Travel expenses or any other expenses incurred by a spouse, relative, friend or other individual accompanying a Board or staff member will be considered to be personal travel and will, in no event, be a proper expense of the Retirement Board.
Payments or Reimbursements for Expenses by Third Parties
1. Board or staff members may not receive or accept anything of substantial value from any person, firm, partnership or other entity which may be reasonably expected to seek to do business with or is seeking to do business with or presently is doing business with a Retirement Board or any person, firm or other entity that solicits or makes referrals or which may be reasonably expected to solicit or make referrals of any client on behalf of such a person, firm, partnership or other entity.
2. The providing to and the receipt of anything of substantial value from such a person, firm, partnership or other entity indirectly through any person, firm, association, organization or other entity is prohibited.
3.In instances where a Board or staff member participates in a legitimate speaking engagement, the Board shall pay all costs and expenses related to such speaking engagement, provided, that the Board or staff member complies with all of the Board’s travel regulations. The Board may accept reimbursement for such travel-related expenses of a Board or staff member from the third party, only under the following limited circumstances:
A Board or staff member may participate in legitimate speaking engagements in connection with their positions on the Retirement Board or as a member of the Board’s staff and the Board may accept reimbursements from third parties necessary to cover travel-related costs for such engagements.
Acceptance of an honorarium or any other form of compensation is strictly prohibited.
To be considered a legitimate speaking engagement, the presentation must be formally scheduled on the agenda of a convention or conference.
The speaking engagement must be scheduled in advance of the Board or staff member’s arrival at the event.
The presentation must be before an organization that would normally have outside speakers address them at such an event.
The presentation cannot be perfunctory, but should significantly contribute to the event, taking into account such factors as the length of the speech or presentation, the size of the audience, and the extent to which the speaker is providing substantive or unique information or viewpoints.
The Board can be reimbursed by a third party for expenses only to the extent necessary for making the speech or presentation.
Under no circumstances can a Board or staff member receive reimbursement or any other payment or compensation from a third party.
Violation of Board Travel Regulations
Any person or entity that violates these regulations shall be deemed to have violated the provisions of 840 CMR 17.00 and shall be subject to removal as a qualified investment manager of consultant pursuant to 840 CMR 17.04(10). In addition, the Public Employee Retirement Administration Commission shall not grant an exemption pursuant to 840 CMR 19.02 or a qualification pursuant to 840 CMR 26.04 if any person or entity that has violated these regulations is the subject of the filing pursuant to those provisions.